Leading London removal service, Best Van and Man, have recently commented on the Bank of England report which reveals mortgage approvals in December 2014 rose thanks to low priced mortgage deals.

After six months of contraction, December 2014 mortgage approval figures rose to 60,275, largely thanks to a series of low priced mortgage deals put in place to bring in buyers to take out a home loan.

This is a large increase after November 2014’s figures, which saw a seventeen month low with 58,956 approvals made, though the low isn’t expected to be repeated due to the receding of the higher interest rates and credit rationing methods put in from last spring set to wear off.

Thanks to the recovery of banks and building societies, more competition has sprung up, allowing for cheaper rates and chief UK economist of Berenberg bank, Rob Wood, said, ‘Cheap and falling mortgage rates, now rising real wages, rapidly declining unemployment and elevated consumer confidence all bode well for the housing market this year.’

Chief economist of HIS Global, Howard Archer, also said, ‘The market was clearly initially influenced by the introduction of the new Mortgage Market Review regulations that came into effect in late April. These regulations put greater onus on mortgage lenders to assess the ability of potential borrowers to meet their initial and future mortgage payments.’

Often commenting on industry news, a spokesperson for Best Van and Man said, ‘The December figures are great news for the housing industry and it means many more people will need to make the move in the coming months as they prepare to move into their new homes.

Our removal services are suited for just that, and we have a highly talented team in place to organise and efficiently move a houses contents to another with ease. We also offer storage solutions for those looking for a place to keep their interior contents if they can’t make the move straight away and need to be out of their old home.’

Best Van and Man is a major London removals firm offering both home and office removals throughout the region. The company offers a great deal of services alongside office and home removals, with self-storage, packaging and courier services also available. Each move is tailored to each individual client, with an experienced team in place to adapt to different locations and removal situations. 

To view the full range of services available through Best Van and Man, visit www.bestvanandman.co.uk today.